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b. Journalize Morrison Industries entries to record: the receipt of the note. the receipt of the payment of the note at maturity. 1. CashInterest ExpenseInterest

b. Journalize Morrison Industries entries to record:

  1. the receipt of the note.
  2. the receipt of the payment of the note at maturity.
1. CashInterest ExpenseInterest RevenueNotes ReceivableSalesNotes Receivable
CashInterest ExpenseInterest ReceivableNotes ReceivableSalesSales
2. CashInterest ExpenseInterest RevenueNotes PayableNotes ReceivableCash
CashInterest ExpenseInterest ReceivableNotes PayableNotes ReceivableNotes Receivable
Accounts ReceivableCashInterest ExpenseInterest RevenueNotes PayableInterest Revenue

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